3859 153rd St

Midlothian, IL 60445

$265,000F

3 bd · 1.0 ba · 1,277 sqft · Built 1959 · SingleFamily · Active · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,437/mo
• Mortgage (P&I): −$1,390
• Tax + insurance: −$490
• HOA: −$0
• Vac / Maint / Mgmt: −$512
• Net cashflow: $46/mo
• Annual: $547/yr
• Cap rate: 6.50%
• Cash-on-cash: 0.74%
• DSCR: 1.03
• 1% rule: 0.92%
• Cash to close: $74,200

Investor read

• This is a 3-bed/1.0-bath single-family listed at $265k.
• At list price, monthly cash flow is $46 ($547/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $244k (8.0% below list).
• It's been on market 39 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $244k (8.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#133 in IL, #2,433 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D+, amenities D-.
• Bremen Chsd 228 (suburban): math 15% / reading 17% proficiency, ranked #468 of 620 in IL (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Central Park Elem School (math 4% / reading 14%, grade F, #1,611 of 2,056 statewide, top 79%, 646 students, 0% FRL); Bremen High School (math 8% / reading 11%, grade F, #577 of 693 statewide, top 84%, 1,497 students, 0% FRL).
• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 48 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• Cap rate 6.5% vs local median 5.0% in Midlothian — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
• Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.